Kenya's economy grows by 5.8 pc in Q3, KNBS says

Money Markets

Workers at the standard gauge railway construction station site. The construction sector has been touted as one of the economic growth drivers in the third quarter. PHOTO | FILE | NATION MEDIA GROUP 

By GEOFFREY IRUNGU, girungu@ke.nationmedia.com

Economic growth surged to 5.8 per cent in the third quarter of 2015 compared to 5.2 per cent in the same quarter last year as several sectors recorded improved performance.

 

According to data from the Kenya National Bureau of Statistics (KNBS), agricultural sector grew by 7.1 per cent up from 6.8 per cent in the same quarter last year, showing the impact of improved rains in the longer season between March and May.

Other sectors that performed well during the quarter were transport, construction and the financial sector.

"Activities of the construction industry recorded the fastest growth of 14.1 per cent followed by mining and quarrying, electricity supply and financial and insurance with growths of 12.5 per cent, 11.0 per cent and 10.1 per cent, respectively," KNBS said Wednesday.